Bitcoin Strengthens as Consolidation Resumes

On Sunday, BTC closed the week having surpassed the landmark $118,500 level. Market participants observed that after dipping below a key psychological threshold earlier in the week, BTC appears to be establishing a foundation in a consolidated sideways movement.
A technical perspective highlights an inherent support zone near the $116,000–$117,000 range and an overhead resistance trend line near the $123,000 barrier.

Analysts Point to Key Targets Above $125,000

Key figures suggest a potential bullish scenario unfolding. Marcus Corvinus, a popular cryptocurrency trader, stated on social media that a breakout could target levels around $125,000, illustrating a prevailing sentiment of anticipation.

“BTC is getting ready for a big move. … This triangle is almost full a breakout or breakdown is coming soon. Stay ready. The next big move is close.”

Rekt Capital, another prominent analyst, reinforced the idea that a breach of recent lows risk reinforces a further consolidation or correction.

Focus Shifts: Alternative Coins Shine as Bitcoin Consolidates

While Bitcoin is consolidating, the primary locus of market interest appears to be shifting towards alternative cryptocurrencies. This divergence suggests continued capital inflow into altcoin projects.

Ethereum Hits Seven-Month High

Following its dramatic post-halving rebound last month, Ethereum (ETH) continues its ascent, reclaiming a seven-month high just shy of the $3,800 milestone on Sunday. This performance has been characterized by notable analyst commentary.

“Ethereum is the first one to move and it has basically ran back to the highs of December ’24. That means that there’s still a lot of upside to come.” — Michaël van de Poppe

Commentators like CryptoMichNL and Michaël van de Poppe emphasize that Ethereum, as the largest altcoin by market capitalization, often leads broader market action. Ethereum is currently approaching its high-water mark from December 2024, suggesting potential further upside and more ground for altcoin repricing.

Ripple (XRP) Targets Ambitious Levels

Analysts also note the potential for assets like Ripple (XRP) to significantly gap from their recent troughs, promising substantial upside should continuing trends materialize.

“Ethereum has long ago resynchronised with its $2,200-$3,900 Macro Range.” — Rekt Capital

The Path Forward: Upside Potential and Market Sentiment

The current market structure presents an interesting dichotomy. While BTC forms the traditional barometer, the broader altcoin market exhibits compressed valuations relative to its December 2024 peak.

Analysts depict a crowded technical setup for altcoins because the largest, including Ethereum, are trading close to major tops from early in 2025. Additionally, van de Poppe specifically mentions that the majority of alternative coins remain substantially below their December 2024 zenith.

Underlying the potential altcoin upside is the prevailing composite narrative that bullish liquidation cycles in equity and perpetual markets, alongside supportive macro conditions from central bank policies, remain intact.